Digital Turbine (NASDAQ:APPS) Lowered to Hold Rating by Zacks Research

Zacks Research lowered shares of Digital Turbine (NASDAQ:APPS) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Weiss Ratings lowered Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 5th. Benchmark started coverage on shares of Digital Turbine in a report on Tuesday, July 21st. They issued a “buy” rating and a $15.00 price target for the company. Roth Capital initiated coverage on shares of Digital Turbine in a research report on Tuesday, July 21st. They set a “buy” rating and a $11.50 price objective for the company. Bank of America upgraded shares of Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price objective for the company in a research report on Wednesday, May 27th. Finally, Wall Street Zen upgraded shares of Digital Turbine from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $11.00.

Digital Turbine Stock Performance

NASDAQ APPS opened at $8.46 on Monday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -23.50, a PEG ratio of 0.67 and a beta of 2.75. Digital Turbine has a twelve month low of $2.74 and a twelve month high of $13.60. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.84. The stock has a 50-day moving average of $9.21 and a 200 day moving average of $5.84.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.07. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%.The company had revenue of $142.55 million for the quarter, compared to the consensus estimate of $133.22 million. Sell-side analysts anticipate that Digital Turbine will post 0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Digital Turbine

Several hedge funds and other institutional investors have recently made changes to their positions in APPS. CoreCap Advisors LLC purchased a new stake in shares of Digital Turbine during the second quarter worth approximately $674,000. Segall Bryant & Hamill LLC acquired a new stake in Digital Turbine during the 1st quarter worth $1,283,000. Verus Capital Partners LLC purchased a new stake in shares of Digital Turbine during the first quarter worth $35,000. Essential Partners LLC raised its position in shares of Digital Turbine by 167.3% in the first quarter. Essential Partners LLC now owns 9,031 shares of the software maker’s stock valued at $26,000 after buying an additional 5,652 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Digital Turbine by 17.4% in the first quarter. Bank of America Corp DE now owns 3,619,171 shares of the software maker’s stock worth $10,423,000 after buying an additional 535,169 shares in the last quarter. Hedge funds and other institutional investors own 63.66% of the company’s stock.

About Digital Turbine

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.